UK economy to hit pre-recession peak by summer, BCC says

The size of the overall UK economy will this summer overtake the peak level it was at before the 2008 financial crisis, a business lobby group says.

Draghi: Reforms must continue despite social cost

FRANKFURT, Germany (AP) — European Central Bank President Mario Draghi has acknowledged that austerity measures and economic reforms can have heavy social costs — but argues they are the way to a fairer society because they can reduce injustices such as widespread youth unemployment.